CHIA Practice Exam With Correct Answers 2023

Which is a parent company consisting of multiple chains? - Choice Hotels Which is a true statement about parent companies? - Parent companies and related chains have changed over time What are the 3 different operation types - Corporate, Franchise, Independent Which is a true statement about independent hotels? - Independent hotels are not affiliated with a specific chain Which is a true statement about management companies? - Management companies have contracts where they receive payment for their services and some of the profits Which is a true statement regarding geographic categorization? - STR uses the UNWTO definitions when it comes to recognizing countries Which is true regarding markets? - No market will ever cross country boundaries in descending order of geographic size, which is correct? - Continent, sub-continent, country, market, tract/sub-market which two geographic categories are the most important for a hotel GM - Market and tract/sub-market markets and tracts are created based on what two determining factors - number of hotels and participation which is true regarding tracts - tracts are referred to as sub-markets outside of north America Changes to how markets and tracts are geographically defined are made how often - annually which two non-geographic categories are the most important for a hotel GM - scale and class How many scale categories are there compared to class categories - 7 scale and 6 class which one is an accurate statement regarding scale and class groups in a single chain? - A Ritz Carlton Hotel will always be in the same scale and class groups in every country throughout the world which one is an accurate statement regarding class groups - independent hotels are slotted into class groups based upon the ADR of the independent hotel compared to the chain hotels in the same market Which one is NOT a location category used by the hotel industry - oceanfront Which is NOT a valid non-geographic category - guest satisfaction rating benchmarking in the hotel industry takes place at what level? - property level corporate level geographic level comp sets are used for many purposes in hotel operations, which is one of those purposes - used to aid sales and marketing used in management contracts for performance requirements effect a GMs compensation 4 key considerations when creating a comp set - participation, proximity, pricing, and product all of the following are good reasons for a hotel to have additional comp sets except - have one set that you can easily beat and another which is a realistic target when can a comp set be created - when the hotel is under construction who creates a competitive set for a chain hotel - it is a joint effort involving many stakeholders what is the average number of hotels in a comp set - between 5 and 6 which is a valid rule related to creating a comp set - when percentages are calculated, the rooms of the subject hotel, as well as the same chain and parent company, are excluded what is a reverse comp set - properties that name your hotel in their comp set when can a comp set be changed - at any time, although many wait until the beginning of the year which is NOT a valid rule related to changing a comp set - a single hotel may be added to a comp set at any time